Foursquare launches new ad platform, Pinpoint
Foursquare, a location-based social service, has launched a new ad offering, Pinpoint, that would allow marketers to target users based on places and establishments they frequent.
The app allows marketers to tailor advertising toward both Foursquare and non-foursquare users.
“We believe the places you go are the best indication of who you are,” said Foursquare’s chief revenue officer, Steven Rosenblatt, told The Wall Street Journal. “There’s a lot of noise out there about using location data for ad targeting, but we think we can bring quality and accuracy to the market that doesn’t exist today.”
The app would partner with other apps to garner a non-Foursquare user’s location. It would then match this location to its database.
Then, for example, if it determines that the user is at a gas station, marketers can use this information to display the ad of a competing gas station.
These steps can also be used to determine if the ads are effective and if users visit a physical store after viewing an ad.
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